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Honeywell to buy supply chain company Intelligrated
04
Jul '16
Honeywell said it will acquire supply chain and warehouse automation leader Intelligrated for $1.5 billion, which has estimated sales of approximately $900 million.

“The purchase price translates to approximately 12 times Intelligrated's estimated 2016 earnings before interest, taxes, depreciation and amortisation (EBITDA),” the company added.

Intelligrated designs, manufactures, integrates and installs complete warehouse automation solutions, software and services that result in smarter distribution and fulfillment operations.

Its supply chain and warehouse solutions drive improved productivity and lower costs for retailers, manufacturers, and logistics providers around the world.

“The company has grown at a compound annual growth rate (CAGR) of approximately 13 per cent over the past three years, faster than the industry overall,” Honeywell informed.

According to Honeywell, Intelligrated has a growing customer base, including 30 of the top 50 U.S. retailers, and half of the top 100 Internet retailers.

Alex Ismail, president and CEO of Honeywell Automation and Control Solutions said, “This acquisition fits with our vision for a connected industrial company and a connected worker.”

“Intelligrated's solutions are a fantastic complement to our workflow performance solutions including cloud-connected mobile worker applications and high-performance data collection hardware,” said John Waldron, president of Honeywell Sensing and Productivity Solutions.

Founded in 2001, Intelligrated employs more than 3,100 people in manufacturing and regional offices located across the United States, Canada, Mexico, Brazil and China. (AR)

Fibre2fashion News Desk - India

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